GJIS (Europe) Ltd act as an intermediary or agent between you, the consumer, and the product provider with whom we place your business.
Pursuant to provision 4.58A of the Central Bank of Ireland's September 2019 Addendum to the Consumer Protection Code, all Intermediaries, must make available a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.
What is commission?
For the purpose of this document, commission is the payment earned by the Intermediary for work undertaken on behalf of both the provider and the consumer.
General insurance products
General insurance products, such as our Jewellers’ Policies, Property, Liability, Cyber, Motor, Home, Personal Accident or Sickness, Travel are typically subject to standard commission model, based on the amount of premium charged or earned for the insurance product.
Profit Share arrangements
In some cases, the Intermediary may be a party to a profit-share arrangement with a product provider and will earn additional commission. Any business arranged with these product providers on a client's behalf will be placed with the product provider because that product provider is at the time of placement, the most suitable to meet the client's requirements, taking all the client's relevant information, demands and needs into account.
The firm may also be remunerated by fee by the product producer such as policy fee, admin fee. In this event any such charges will be clearly stated.
The enclosed commission guidance section gives indicative values across every product provider and every product advised whereby a commission or fee is received within our business. This is the maximum we will take and is subject to change, in certain cases we may take a different remuneration than the stated values. This will be disclosed to each client in accordance with the Central Bank Consumer Protection Code regulations, on a client by client basis.
Other Fees, Administrative Costs/ Non-Monetary Benefits
The firm may also be in receipt of non-monetary benefits, for example assistance with advertising and Branding
Details on the providers we work with, the products we may sell and the maximum commissions available to us are outlined below.